As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I can’t help but feel a mix of anticipation and apprehension upon learning about Binance’s upcoming conversion of various tokens to USDC. This is particularly true for Bitcoin Gold (BTG) and Monero (XMR), two tokens that have held my interest for quite some time.
Binance plans to exchange multiple cryptocurrencies such as Bitcoin Gold (BTG) and Monero (XMR) into US Dollar Coin (USDC) starting from a specific period between September 2, 2024, and March 1, 2025. This conversion will be based on the average exchange rate during this timeframe, ensuring users get an equivalent amount of USDC for their holdings in the affected tokens.
Users with Bitcoin Gold (BTG) and Monero (XMR) tokens in their Binance wallets should pay close attention. They need to withdraw these assets from their Binance account before September 1, 2024, 23:59 UTC, because after that date, withdrawals for these specific tokens will no longer be possible.
A number of digital currencies have been affected recently, such as Bitcoin Gold (BTG), Bitcoin Standard Hashrate Token (BTCST), Bitshares (BTS), District0x (DNT), Groestlcoin (GRS), Hegic (HEGIC), MobileCoin (MOB), Monero (XMR), Monetha (MTH), Multichain (MULTI), Navcoin (NAV), Sologenic (SOLO), Spartan Protocol (SPARTA), Symbol (XYM), and Tribe (TRIBE).
The transformation will come to an end by March 1, 2025, at 11:59 PM UTC. During this phase, you won’t find these tokens in your digital wallets, as the process involves using the average exchange rates throughout this duration. Binance will keep you informed about the conversion details and the average exchange rates during this period via email.
It’s crucial that you take immediate action as deposits for these tokens are no longer being accepted. If you want to withdraw your holdings, now is the time to do it. By August 19, 2024, Binance will inform all affected users about the details of the conversion process.
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2024-08-12 16:05